The evaluation of tourism development economic impact indicators in Lithuania

Tourism is recognized as a very important sector for increasing GDP, creating new jobs, activating the balance of international trade. However, fierce competition in tourism sector may lead to the negative economic consequences. The article aims to carry out the economic evaluation of Lithuanian tourism development indicators. In order to achieve this aim different methods were used: critical analysis of scientific sources, comparative and systematic analysis of statistical data, correlation analysis (Pearson correlation coefficient). The impact of tourism on economic growth was assessed by analysing the changes in the GDP multiplier effect of investments attracted by tourism cluster, taxes collected, and multiplier effect. It was found that the consumption of tourism products has a significant impact on GDP. Tourism consumption reflects on accommodation establishments on the basis of income and their impact on GDP, created in Lithuania. Confirmed the statistical causality of tourism development and the economic situation in the country. Business development in the tourism sector, establishing new and expanding already existing enterprises create favourable conditions for the establishing new job vacancies, helps to tackle unemployment rates.